The skyline of the City of London is pictured on the horizon as people relax in Greenwich park in south-east London on June 26, 2016. AFP / ODD ANDERSEN
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Global mergers and acquisitions may drop by as much as $1.6 trillion over the next five years unless Britain quickly agrees to leave the European Union under terms that give it continued access to the single market, according to a report released Monday. While the U.K.'s decision to leave the EU will reduce takeover activity under any scenario, a "disorderly" exit marked by difficult negotiations will result in increased political and economic uncertainty and a bigger decline in transactions, a forecast from the law firm Baker & McKenzie shows.Still, it could take four years to catch up with levels of activity that were predicted if Britain had decided to stay in the 28-nation bloc.That would increase to $340 billion, or 34 percent, if Britain is unable to negotiate favorable terms.
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